The Facebook owned Instant Messaging App WhatsApp is preparing for Payment since last two years and now the news is that WhatsApp Pay will be launched in India soon is making it around the corner. WhatsApp Pay has got green signal from National Payment Corporation of India (NPCI) for this purpose.
Now after getting license from NCPI, WhatsApp can introduce the Payment system using which the users can make payments with the help of Unified Payment Interface (UPI). Since 2018, the company has been testing WhatsApp Payments. The company has tied up with ICICI bank for this purpose.
However, WhatsApp has not officially confirmed anything about the license from NPCI. As confirms a report from Business Standard, about 1 crore people in the country will get WhatsApp Pay access in the first phase whereas the number of users in the country is around 40 crore.
Just to recollect, the last week Facebook CEO Mark Zuckerberg had hinted about the launch of WhatsApp Pay in India along with Brazil, Indonesia and Mexico in the next six months.
Now the biggest concern that might arise about WhatsApp Pay is security as in the last few months, many security bugs have been detected in the Instant Messaging App. A report from August last year confirms that India is undergoing a Digital growth of 12.7 percent every year.